OBX Real Estate Market Weekly Update – 3/20/2022

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OBX Real Estate Market Weekly Update – 3/20/2022

The most striking stat from this particular week is the percentage of new listings going under contract during the first seven days: 62%! On the day this was written 79% of them are already spoken for!! Out of all of the properties listed in 2022 81% are under contract/sold/otherwise off-market.

The number of new listings is down 16% when compared to last year. On March 30th there were 238 active listings, not including co-ownerships where 5+ weeks are sold, not the property itself.

In their February Statistical Report, the Outer Banks Association of REALTORS┬« referred to the number of “Outer Banks listings” when talking about the low number of available properties. That number would exclude Elizabeth City, Edenton, and other places considered “Outer Banks” but still in our MLS area. On this day that number is 176 properties.

 

Units Sold 61
Average List Price $665,265
Average Sold Price $653,941
Median List Price $499,900
Median Sold Price $485,500
Average Days On Market 43
Median Days On Market 20
Total Volume $39,890,446
Units Under Contract 79
Average List Price $806,562
Median List Price $599,900
Average Days On Market 31
Median Days On Market 7
Under Contract 1st 7 Days 38
Under Contract 1st 7 Days % 48%
New Listings 68
Average List Price $797,839
Median List Price $640,100
New Listings Under Contract/Sold/Withdrawn 54
New Listings UC/Sold/Withdrawn % 79%
New Listings UC/Sold/Withdraw 1st 7 Days 42
New Listings UC/Sold/Withdraw % 1st 7 Days 62%
Total Active Listings As Of 3/30/2022 238
Average List Price $1,061,959
Median List Price $729,000
OBX Active Listings As Of 3/30/2022 176
Average List Price $1,272,285
Median List Price $849,500

Information in this article is based on information from the Outer Banks Association of REALTORS® MLS for the period March 14th, 2022, through March 30th, 2022. Residential, not including co-ownerships.

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